Organisation of Data Test - 1

A variable interest rate is an interest rate on a loan or security that fluctuates over time, because interest rate or index changes periodically.

A frequency distribution is a table that displays the frequency of various outcomes in a sample. Each entry in the table contains the frequency or count of the occurrences of values within a particular group or interval, and in this way, the table summarizes the distribution of values in the sample.

A Frequency array is an array of frequencies according to variate values, that is to say, a frequency distribution. The term “array” is often used for the individual frequency distributions which form the separate rows and columns of a bivariatefrequency table. The raw data when put in ascending or descending order of magnitude is called an array or arrayed data.

When the data is presented in some specific order and sequence it is called as a statistical series. An ordered sequence of data samples in numerical form used to predict or demonstrate trends through time and space is called statistical series

The process of arranging data into homogenous group or classes according to some common characteristics present in the data is called classification.

Bivariate distribution is the combined probability distribution of two randomly different variables. Normally, these can be plotted graphically on x and y axes so their relationship can be analyzed and any relevant causal effect can be identified. This type of data analysis is useful in risk management.

A Comprehensive Data Definition refers to a formal data definition that provides a complete, meaningful, easily read, readily understood definition explaining the content and meaning of data.

The lower limit for every class is the smallest value in that class. On the other hand, the upper limit for every class is the greatest value in that class. The class midpoint is the lower class limit plus the upper class limit divided by 2.

If, in a frequency distribution, the initial class interval is indeterminate at its beginning and/or the final class interval is indeterminate at its end, the distribution is said to possess “open ended” classes. A class has either no lower class limit or no upper class limit in a frequency table is called an open-end class.